INTRALOT: 1H11 FINANCIAL RESULTS REVENUES AND EBITDA GROWTH POSITIVE CASH FLOW
INTRALOT S.A., the leading international gaming company, today announces its financial results for the six month period ending June 30th 2011, prepared in accordance with IFRS.
Consolidated Revenues posted an increase of 8.4% reaching €586.4m in 1H11 compared to €540.9m in 1H10. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in 1H11 were €72.6m, compared to €70.8m in the same period in 2010. EAT (after minorities, prior FX gains/losses, prior write-downs) in 1H11 were increased by 183.0% reaching €18.5m. EAT (after minorities, prior write downs) reached €13.3m, while EAT (after minorities & write-downs) were shaped at €7.5m. In 1H11 INTRALOT posted a positive cash flow: net debt dropped by €4.5m compared to 12M10.
Revenues for the Parent Company in 1H11 decreased by 15.5%, to €63.4m. EBITDA decreased by 15.6% to €12.8m from €15.2m in 1H10 and Earnings After Taxes (EAT) were €3.7m from €20.2m in 1H10.
Commenting on the results INTRALOT Group CEO, Mr. Constantinos Antonopoulos, noted: “In 1H11 we have managed to grow the Company’s revenues and EBITDA despite difficult comparisons with 6M10 results, as the investments the Company has undertaken in the past years have started to pay off.
INTRALOT is following closely the developments that are taking place in a number of countries and states in Europe (Greece, Germany, Spain, etc.) regarding the liberalization of their gaming markets.
Moreover, we are focusing in certain opportunities in the North American market in the area of VLTs, whereas in Latin America, after the optimization of our portfolio, we continue the good progress in all our projects.
Finally, in Asia we enhance our efforts to increase our presence in China and utilize our dominant position in the other countries.”
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage which contributes directly to customers’ efficiency, profitability and growth. With presence in more than 53 countries, with approximately 5.400 people and revenues of €1.1 billion for 2010, INTRALOT has established its presence on all 5 continents.
For more info:
Ms Persa Kartsoli, Head of Corporate Affairs, Phone: +30-210 6156000, Fax: +30-210 6106800, email: email@example.com - www.intralot.com